Topic: How To Invest

Stock Pickers Digest Hotline – Friday, October 28, 2016

Article Excerpt

FIRSTSERVICE CORP., $54.95, symbol FSV on Toronto, set up its commercial real estate business, Colliers International Group, as a separate company on June 2, 2015. Now that the spinoff is complete, FirstService is carrying on with its residential property management and its commercial and residential property improvement services. In the third quarter, ended September 30, 2016, the company’s revenue rose 17.0%, to $409.1 million from $349.5 million a year earlier (all figures except share price in U.S. dollars). Excluding Colliers and one-time items, earnings per share for the quarter jumped 24.0%, to $0.62 from $0.50 a year earlier. The results suggest the company is on target to make $1.56 U.S. a share for 2016—the second and third quarters are its busiest. With the April 2016 payment, FirstService raised its quarterly dividend by 10.0%, to $0.11 U.S. from $0.10 U.S. The stock yields 0.9%. The company’s outlook remains strong. The spinoff of Colliers International Group adds to its appeal. That’s because in most academic studies on…